SUNBIZ

813 Energy Fiji Limited Staff To Benefit From $1.9M Dividend Payout

During the announcement, Mr Sayed-Khaiyum said the Government of Fiji’s overall objective is to ensure that everyone gets connected to some form of energy.
10 Oct 2019 15:27
813 Energy Fiji Limited  Staff To Benefit From $1.9M Dividend Payout
From left: Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum (centre) and Energy Fiji Limited (EFL) chief executive officer Hasmukh Patel with staff during the dividend payout by EFL in Suva on October 9, 2019. Photo: Laiseana Nasiga.

The Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum yesterday announced a $1.9 million dividend pay-out to Energy Fiji Limited (EFL) staff.

This means that 813 Fijians who work for EFL will receive the dividend payout.

During the announcement, Mr Sayed-Khaiyum said the Government of Fiji’s overall objective is to ensure that everyone gets connected to some form of energy.

Mr Sayed-Khaiyum further adds that the government is looking to invest more into renewable energy as this will benefit the environment.

“Long term of course when we have greater dependency on renewable energy as long as it’s a regular dependency on the supply of renewable energy, it reduces the overall costs and we will be able to make more profit.

“It also means as a secondary effect, it will have a positive effect to the environment as the more fossil fuel you burn the greater the carbon produced,” said Mr Sayed-Khaiyum.

FNPF as shareholder

He also confirmed that Fiji National Provident Fund (FNPF) will also be a shareholder to EFL.

He says that all Fijians have become shareholders for the second time because they are also a member of FNPF.

“You have become a shareholder for the second time because now FNPF is a shareholder, the final works will be done this Friday where the transaction settlement will take place.

Mr Sayed-Khaiyum highlighted FNPF has successfully acquired 20 per cent of EFL, which means as members they are also the shareholders.

Mr Sayed-Khaiyum also said that the Government looks to expand and reach out to isolated areas to ensure that all Fijians are connected.

“So we are actually thinking energy, talking energy, we need to understand that there are many other people who still need to be connected,” Mr Sayed-Khaiyum said.

Feedbacklaiseana.nasiga@fijisun.com.fj

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